Unlocking the hidden benefits and drawbacks of selling home during winters
For residential real estate, winters are marked by a period of inactivity. The general trend indicates a sluggish market; however, certain situations and events prompt people to buy homes during winter. Likewise, not every seller can wait till the spring season to list their home.
Most sellers list their homes during spring and summer, usually considered the ideal time for selling a home. During winter, the market is generally less competitive, with fewer homes on the MLS. This limits the options for interested buyers who are eagerly looking for a home to buy. While there are few buyers, the available options are also limited. Hence, your home will stand out, and serious buyers will consider it a viable option.
Expedited Selling Process
Real estate agents, remodeling contractors, home inspectors, mortgage lenders, photographers, escrow companies, home appraisers, and moving companies are some important players facilitating the home buying and selling process. Since the real estate market is less busy during winter, these professionals will offer their services without unnecessary delays.
Hence, the home-selling process speeds up during winter.
Buyers Avoid Unnecessary House Hunting
During winter, only serious and motivated buyers are searching for a home. The cold and snowy weather makes house hunting a daunting task. Hence, most winter buyers avoid unnecessary house hunting and narrow down their search for homes that meet their requirements. If they like their home, they will quickly place an offer for the home.
Demerits
Winters Give The Home a Drabby Appearance
During winter, the weather is not on your side. Homes appear their best in spring when the sun shines, and flowers have sprouted in your garden. During winter, homes appear brown and grey, and the curb appeal takes a serious hit. Icy driveways, snowy yards, barren trees, and no vegetation give the home a lackluster appearance.
However, you can compensate by offering the potential buyers a cozy house viewing experience. Shovel the snow and ensure your home is warm and comfortable before every house viewing. Offer a hot beverage to the visitors and show off your home’s energy-efficient features. Features such as thermal insulation, smart thermostats, heat-trapping dual-pane windows, efficient HVAC systems, solar panels, debris-free air ducts, tankless water heaters, etc, will surely captivate the attention of winter buyers.
Sellers Don’t Have Much Room To Negotiate
During winter, most people are not actively looking to buy a home, so there will be very few interested buyers in the market. Even if your home meets all the criteria, you will unlikely receive multiple lucrative offers. Bidding wars are also rare during winter months.
This limits your negotiating power and takes the leverage away from you. Ultimately, you may have to accept a lower price for your home.
We recommend hiring a professional realtor if you want to sell your home for a good price during the winter season. Real estate agents will help you navigate the tricky terrain of residential real estate and get a good deal for your home.
Looking for a trustworthy realtor in Morris County? Contact Jackie Scura. We are an experienced team of real estate professionals who provide expert guidance and support throughout the home-selling process. Call us at 973-319-8334 for more information.
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